Equihash is not a new Algorithm
Just because you have a low Supply doesnt take a coin to the moon
No real features
Why would anyone buy this over Zencash/Zelcash/Monero or any other privacy coin?
The small supply it's to make a coin with some value, thats the point, A lot of coins with Billions suply is Useless, Egame, Stronghands, and more.
The point its to make a Currency, and the low suply (7 000 000) guarantee that coin will have any value, and can be used for money transfers.
Why We need a new algorithm ?
This is just a new coin with new features, and cheapper than monero/zencash If you use for money tranfers.